Don't. As you can see in the article below, the biggest factor in affordability is...interest rates. A 1% increase in interest rates could decrease the amount you can afford by $50K-$100K (in price).
So, if you happen to be waiting on the sidelines for real estate prices to become more affordable, you may end up costing yourself money in the long run. Check out the article and feel free to post your own comments...
Realty Times - Real Estate News and Advice
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